STAR FUTURE TIP FOR 30 AUG 2016

LAST RECOMMENDATION UPDATE: GIVEN ON 25 AUG

JUST DIAL ALMOST HIT FIRST TGT 515 MADE HIGH OF 514.80

LOT SIZE: 800

DAILY TOTAL PROFIT: 23680 IN JUST TWO LOT

 “BUY STAR ABOVE 950 TGT 965/980”

star  After showing correction from the higher level, now stock is trading in short term recovery phase, it is likely to continue the upside move in near term with the crossing of the resistance level of 950 as the stock is managing to sustain above the level of 950. One may get the targets of 965,990 in the stock with the stop loss of 920.

CANDLESTICK PATTERN:

In daily chart star The Bullish Hammer appears in a downtrend and it sells off sharply following the market open. After the decline ceases, the market almost returns to the high of the day. Apparently the market fails to continue on the selling side. This observation reduces the previous bearish sentiment causing short traders to feel increasingly uneasy with their bearish positions. If the body of the Hammer is white, then the situation looks even better for the bulls.

Nifty eNDS higher settles above 8,600 mark

Now Technically, Indian Stock Market is in negative trend and traders should go short at every positive rally in the market. Traders can hold short positions in market for now and can take short positions home confidently, if BankNifty closes below 19166 levels. BankNifty has consolidated earlier in the range of 19000-19100, so it would consolidate again in that range. Once this range is breached on negative side, BankNifty may see downfall upto 18500-18600 levels easily. Traders can hold short positions with Strict stoploss of 8702 levels for Nifty and 19500 levels for BankNifty. Today, the Sensex ended with a gain of 120 points at 27,782. The Sensex opened at 27,827 touched an intra-day high of 27,953 and low of 27,699. The Nifty closed with a gain of 35 points at 8,607. The Nifty opened at 8,584 hitting a high of 8,622 and low of 8,544.

TOP GAINERS: Tata Motors, Hero MotoCorp, RIL, L&T, Bharti Airtel 

TOP LOSERS:  Wipro, TCS, Lupin, HDFC Bank and Asian Paints